Posted by Jimmy Song > 2014-08-28 10:12 | Report Abuse

CREST BUILDER Q-O-Q EARNINGS UP 104% CREST BUILDER DELIVERS LEAP IN EARNINGS PETALING JAYA, 27 AUGUST 2014 – Crest Builder Holdings Berhad (“CBHB” or the “Group”) announced its second quarter results for its financial year ended 31 December 2014 (‘Q2FY2014’) with revenue of RM55.7 million representing a 20.2% increase as compared to its corresponding quarter last year (‘Q2FY2013’) The Group reported profit before tax (‘PBT’) of RM16.6 million, representing a 152.0% increase compared to its last quarter (‘Q1FY2014’). This increase in PBT was mainly due to higher sales from the Group’s development projects and growing property division. In terms of the Group’s half-year (‘1HFY2014’) segmental performance, its construction and property development division achieved earnings before interest and tax (“EBIT”) of RM8.3 million and RM24.5 million respectively. The property development division has delivered an EBIT of RM24.5 million due to higher sales recognised for the period from its development projects. The significant decrease in PBT amounting to RM33.1 million for the quarter under review as compared to the corresponding quarter last year was largely due to the fair value gains on the Group’s property investments recognised in Q2FYE2013. “I am pleased with this quarter’s results and looking forward to the various opportunities we have for the coming quarters. The recent and continuing volatility in raw material prices poses a challenge to us. However, I am confident that we will remain profitable due to the strength of our construction segment and the upcoming property launches that we have in the pipeline.” commented Mr. Eric Yong, Executive Director of CBHB.